Published: 2024-10-25T02:04:40.000Z
Chart GBP/USD Update: Turned up from the 1.2895/1.2860 support
Technical Analyst
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Turned up in consolidation from the 1.2907 low as prices unwind the oversold intraday and daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3142 | * | Jun 2023 year high | S1 | 1.2900/95 | ** | congestion, Mar high | |
| R3 | 1.3100 | * | congestion | S2 | 1.2865/60 | * | 50% Apr/Sep rally, Jun high | |
| R2 | 1.3045 | ** | Jul high | S3 | 1.2800 | * | congestion | |
| R1 | 1.2975/00 | * | 17 Oct low, congestion | S4 | 1.2735 | * | 61.8% Apr/Sep rally |
Asterisk denotes strength of level
02:00 GMT - Turned up in consolidation from the 1.2907 low as prices unwind the oversold intraday and daily studies to leave support at the 1.2900/1.2895 unchallenged. Bounce see resistance at the 1.2975/1.3000 area and close above here needed to ease the downside pressure and open up room to the strong resistance at the 1.3045 high of July. Clearance here will fade the downside pressure and see stronger recovery to retrace losses from the September high. Meanwhile, strong support at the 1.2895/1.2860, March/June highs, now protecting the downside.